Quick Steps To Reconcile Accounts In Quickbooks

QuickBooks is essential software to keep all the accounting procedures simple and understandable. The trickiest features and processes can be corrected if you have QuickBooks with you. Today, we will discuss the steps to reconcile accounts in QuickBooks. For more updates on this, you can directly call the experts by calling them at Quickbooks support phone number.

 

Solution

Navigate to the Reconcile Menu-

From the home screen, click on the ‘Gear Menu’ and below the column heading ‘Tools,’ choose the Reconcile tab.

Choose the Account-

On the ‘Reconcile overlay,’ select the account you want to settle from the ‘drop-down menu’ selections.

Once you have selected your account, click on ‘Reconcile Now.’

Enter Statement Details-

Now take a look at a copy of the bank report for the account you are reconciling with QuickBooks. Take note of the Statement End Date & the Ending Balance amount.

Back in QuickBooks, you will see the Reconcile overlay. Enter the Statement End Date into the calendar drop-down menu.

Next, enter the statement’s Ending Balance on the Reconcile overlay and click on ‘OK’ when you are done.

Match Expenses-

Now the real work instigates. Take an extra look at the transaction history on your bank statement. 

Finish Reconciliation-

When you get the ‘difference value’ at the bottom to zero just click on ‘Finish Now.’ 

Now, click on ‘Run Report’ to open a full report of your reconciliation.

What are the Causes of Data Damage in QuickBooks?

When you start doing something important but all of a sudden, you find that there is an incorrect transaction done in the accounting software that cannot be deleted & above that, the inability to open the main file can be a major disaster. In simple language, it can be regarded as data damage in the QuickBooks software. In this case, you can consult the professionals at QuickBooks Customer Service Contact Number with ease.

Data Damage and the causes:

If you are encountering any of the issues mentioned above while working in QuickBooks, one possibility could be that you might have data damage. It entirely means that something is just not right at all with the file. It is perhaps the most complicated problem to explain without getting that technically, but it is also one of the most common errors QuickBooks Desktop clients come across. So, we will now discuss what data damage is all about?

a)    List Damage: it is where your lists like the chart of accounts, Venders list, Customers list are damaged
b)    Transaction Damage: It is where the transaction like Bills, Invoices, payments, and checks are damaged.
c)     Link Damage: It is where the links connecting transactions like the link between an invoice and payment is damaged.

Data Damage means when something is messed up on the hard drive and in return causing QuickBooks to have errors with reading the file. So, QuickBooks is greatly dependent on what is happening on the hard drive. Some of the main causes of the data damage are:-

a)    A computer crash and improper computer shut down: The primary cause of data damage can be when you are working on the Quickbooks and your PC crashes, you might face error messages when you try to go back to where you were.
b)    Power outage or power surge: Blackouts can bring about an unexpected shutdown when the PC is running, while a power flow has a more adverse impact on the hard drive. So, it can be a reason for data damage.
c)     Insufficient system requirements: We at times, ignore the PC's requirements when installing apps as long as our computer permits us to download & install them. Always ensure that the system meets the minimum demands for the QuickBooks software and version of course.

Basic Troubleshooting

a)    Regular Backups: It is always recommended to save backups in various locations and & on different devices. Always back up the files to the cloud too.
b)    Use the Verify Data Utility: Verifying the data is always recommended. You can run it manually as well: - going to the File menu, then Utilities and lastly clicking on Verify Data.

If you still want to consult with the professionals, you can dial QuickBooks Customer Service Contact Number instantly. You can even search for the web directories such as Contactforservice for finding the customer care numbers of the desired brands easily. 

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